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Bonds weaken as US treasuries consolidate above 3%

15 May 2018 - 10:27
Karl Gernetzky

Picture: ISTOCK

South African government bonds were softer on Tuesday morning, in line with the rand, as global bond yields pushed higher.

Overnight comments from a European Central Bank (ECB) monetary policy member that the bank’s interest-rate guidance might need to be adjusted weighed on European bonds, with US treasuries following suit.

The US 10-year bond had climbed above 3% in April, but has since retreated after last week’s lower than expected inflation data, which helped soothe the concern of aggressive hiking by the US Federal Reserve.